the offering settlement or closing occurred seven to ten days after the effecttive date as specified in the underwriting agreement at this meeting the firm delivered the security cerificates to the underwriters and dealers and the lead underwriter delivcred the prescibed proceeds to the firm in addition the firm craditionally delivered an updated comfort letter from its independent accountants following the offering the underwriter generally continued to provide valuable investment-banking scrvices by distributing research literature and acting as a market maker for the company